By the Cuba Journal staff It may be from a rapid influx of new visitors or the country’s recent lightening of foreign investment restrictions — but Cuba’s economy is booming. The country posted a 4.7 percent growth in GDP in the first half of 2015, the government said this week, which would make it one of the … Read more
Eastern, HavanaAir to partner on new service By the Cuba Journal staff Miami-based HavanaAir Charters is launching new weekly direct service between Houston and Havana, the company announced this week. HavanaAir will be operating the service with air carrier partner Eastern Air Lines Group. “We are very pleased to open the Houston to Cuba market with … Read more
“Cuba is an important market for us” By the Cuba Journal staff Western Union is encouraging money transfers to Cuba through a new series of TV spots filmed on the island, according to a report by Advertising Age. These Spanish-language spots are some of the first produced in Cuba by an American-based company since the … Read more
by Cuba Journal staff “No one wants to miss the train,” said Herman Portocarero, the European Union’s ambassador to Cuba, as reported by Reuters. Last week Cuba hosted more than 75 Spanish companies including a delegation headed by Jose Manuel Soria, Spain’s minister of industry, energy and tourism; also attending were 140 Italian firms, joined … Read more
by Cuba Journal staff Don’t let the thrill of Cuba’a resurgence blind you to the risks of owning Cuban real estate because, if you are American, the options are narrow and risky. For starters, US citizens who buy property in Cuba would be violating the Trading With the Enemy Act passed by the U.S. Congress … Read more
by Cuba Journal staff In a recent visit to Cuba, Google executives probed the government’s willingness to allow the search engine giant to scale up island-wide WiFi broadband Internet access almost overnight. Such a service would allow Cubans with smart phones to enjoy open Internet access – and would propel Cuba’s extremely low Internet penetration … Read more
Above: Havana By the Cuba Journal staff A major cruise line is adding a new homeport in Havana. MSC Cruises, the world’s largest privately-owned global cruise line, will begin homeporting its MSC Opera in Havana in December. The 2,120-guest-ship will homeport for the winter 2015-16 seaon to offer 16 Caribbean cruises. The ship will include … Read more
by Simons Chase According to economic development theory, technology transfer and deregulation hold great promise as a pathway for developing countries, like Cuba, to lift incomes, stimulate foreign direct investment and enhance quality of life. To date, the ligature between this type of neoclassical growth model and actual results has been government policy supported by … Read more
By the Cuba Journal staff Jones Lang LaSalle – has warned U.S. investors to hold off on investing in Cuba, according the firm’s latest report. The firm advised investors that even with President Barack Obama’s recent easing of sanctions, integration with Cuba will take time, even after the trade embargo is lifted. “When the [normalization] … Read more
By the Cuba Journal staff New Jersey-based IDT has become the first US telecommunications company to negotiate a deal that will allow international phone calls between Cuba and the US. According to the Miami Herald, IDT reached an agreement with ETECSA, Cuba’s telecommunications company, on Wednesday. “This is an important first step in the liberalization … Read more
